Funding arb · Price arb /

EDGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0372%/8h= +40.7% APRpaid last 24h +0.083%

Price spread now: Extended against Bybit+0.116%7-day average +0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$303as in the Funding arb table

Net, price: spread back to 7d avg − costs−$321as in the Price arb table

costs, in and out, $10k−$3293.291% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.261%+$26 on $10k

Price spread, last 4 days (all we have)−0.119%−$12 · spread now +0.116%, 7d avg +0.038%

Together, before fees+0.142%+ Points / potential airdropExtended: Active · farm board+$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Extended is 0.078% dearer against Bybit than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit EDGEUSDT	0.5916	0.0100	pay 0.0050% / 4h	3h 49m	$7.1M	$3.3M	25x
Short	Extended EDGE-USD	0.5923	0.0472	get 0.0059% / 1h	49m 53s	$27K	$198K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BybitbpFee ExtendedbpOrdersPrice spread, now +0.116%Rate

Funding earned: $78.12
Price spread: +0.116% → +0.038%: $7.83
Slippage, 4 orders: −$313.13
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$243.18
Costs to cover: 3.291%
Break-even: 28.8 days

Slippage from Bybit: live order book, 3 min ago; Extended: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Bybit live order book, 3 min ago	2.52 bp	102.3 bp −$102	376.0 bp −$3,760	doesn't fit	doesn't fit
Sell Extended live order book, 2 min ago	2.78 bp	91.3 bp −$91	doesn't fit	doesn't fit	doesn't fit

EDGE on 17 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter EDGE	+0.0096%	1h	0.5916	+0.007%	$43K	$19K	3x	as long as short
Bybit EDGEUSDTlong	+0.0100%	4h	0.5916	long leg	$7.1M	$3.3M	25x
KuCoin EDGEUSDTM	+0.0100%	4h	0.5932	+0.270%	$2.1M	$2.2M	50x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.5934	+0.304%	$4.7M	$1.1M	20x	as long as short
Backpack EDGE_USDC_PERP	+0.0100%	1h	0.5924	+0.130%	$58K	$110K	3.3x	as long as short
Variational Omni EDGE	+0.0100%	4h	0.5928	+0.211%	$188K	$136K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5964	+0.818%	$12K	$2.5M	10x	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.5968	+0.879%	$9K	$305K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.6205	+4.885%	$4K	$625K	10x	as long as short
BloFin EDGE-USDT	+0.0449%	4h	0.5940	+0.406%	$656K	$102K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster EDGEUSDT	+0.0449%	4h	0.5930	+0.242%	$58K	$152K	5x	as long as short
Binance EDGEUSDT	+0.0468%	4h	0.5927	+0.187%	$10.2M	$10.5M	50x	as long as short
Extended EDGE-USDshort	+0.0472%	1h	0.5923	+0.116%	$27K	$198K	5x
MEXC EDGE_USDT	+0.0478%	4h	0.5928	+0.203%	$1.0M	$863K	50x	as long as short
edgeX EDGEUSDC	+0.0497%	4h	0.5968	+0.875%	$14.3M	$3.6M	30x	as long as short
OKX EDGE-USDT-SWAP	+0.0523%	4h	0.5935	+0.321%	$3.7M	$5.8M	20x	as long as short
Orderly PERP_EDGE_USDC	+0.0563%	4h	0.5927	+0.186%	$3K	$359	10x	as long as short